Maybank will remove several charges on its basic banking accounts from April 1, 2026, including annual card fees and withdrawal charges, while also lowering the minimum deposit required for some accounts.
The changes apply to Maybank’s basic savings and current accounts, which are typically used for everyday transactions and lower-cost banking.
Annual Fee And Withdrawal Charges Will Be Removed
The RM8 annual fee currently charged for debit or ATM card usage will be removed, along with fees tied to frequent withdrawals.
Customers are currently charged RM0.50 per withdrawal starting from the ninth transaction, but this will no longer apply under the revised structure, allowing withdrawals without additional charges regardless of frequency.
Lower Deposit Requirement For Current Accounts
The minimum initial deposit for Maybank basic current accounts will be reduced from RM500 to RM100, lowering the upfront amount needed to open this type of account.
The minimum deposit for basic savings accounts will remain at RM20.
Changes Reduce Costs For Everyday Banking
Removing both fixed and usage-based charges shifts the cost of maintaining a basic account, particularly for those who make frequent withdrawals or rely on these accounts for regular transactions.
The lower deposit requirement also makes basic current accounts more accessible, especially for customers who prefer an account with cheque facilities or need a simpler entry point without committing a larger sum upfront.
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